Tyranna Resources Ltd. on March 13 announced an updated resource estimate for its Eureka gold project in Western Australia following the completion of a drill program.
The property now hosts indicated and inferred resources of 43,100 ounces of gold contained within 762,000 tonnes at 1.8 g/t, using a 0.5 g/t cutoff. The estimate covers a zone under the existing Eureka pit that remains open along strike and at depth.
In addition to the resource, Tyranna defined a maiden exploration target for Eureka that is estimated to contain between 200,000 and 500,000 ounces within 3 million to 4 million tonnes at 2 to 4 g/t.
The company intends to conduct a new round of exploration to test the mineralized potential in the surrounding areas and to follow up on geophysical targets that were generated by the property's previous owners.
Tyranna acquired Eureka from Central Iron Ore Ltd. for A$3.5 million in August 2018.